Members of the Senate Corporations and Transportation Committee agreed this evening to allow a controversial bill relating to corporate income taxes to move forward without a recommendation.
Senate Bill 9, sponsored by Peter Wirth, D-Santa Fe, now heads to the Senate Finance Committee. The legislation would reduce overall corporate income tax rates while closing a loophole that allows out-of-state corporations doing business in New Mexico to avoid paying state income taxes.
Clearly New Mexico’s Matt Reichbach liveblogged today’s hearing. Read the archive here: